UNFUNDED MANDATES NOW "CONTRACT" LAW

At a more sedate Rose Garden ceremony this afternoon, President Clinton signed the "unfunded mandates" bill into law. The measure prevents Congress from imposing costly newrequirements on the stateswithout providing adequate funding. Addressing a bipartisan crowd of lawmakers and 125 state and local officials, the president said that the law "shows that Republicans and Democrats can come together andbreak gridlock." He added: "This bill is another acknowledgment that Washington doesn't necessarily have all the answers." The law -- which allows states and localities to ignore most federal regulations that cost them more than $50 million a year -- is the second part of the GOP "Contract With America" to go on the books.In January, Clinton signed a bill forcing members fo Congress to abide by the same employment laws as the private sector.